Banc One Investment Advisors Corporation

Distribution Annoucement

On August 13, 2007, the SEC announced the distribution of approximately $55.6
million in Fair Funds to more than 200,000 investors who were harmed by
fraudulent market timing in certain Banc One Investment Advisors Corporation mutual
funds (One Group Mutual Funds). The Fair Fund Administrator responsible for
distribution is Boston Financial Data Services, Inc. (BFDS). Questions from investors
regarding the distribution may be directed to BFDS at (800) 261-0282.
Information about the distribution can also be obtained at the BOIA website.

SEC Action and Distribution Plan

On June 29,
2004, the SEC instituted and settled administrative and cease-and-desist
proceedings against Banc One Investment Advisors Corporation (BOIA). The SEC
alleged, among other things, that BOIA improperly allowed market timing in its
One Group Mutual Funds, a Bank One sponsored mutual fund complex, failed to
charge required redemption fees in One Groupís international funds, and
improperly released confidential portfolio holdings. As part of the settlement,
BOIA has paid $10 million in disgorgement of ill-gotten gains and $40 million
in civil penalties into an interest-bearing escrow account for distribution to
defrauded shareholders.

For more
information on the SEC's action, you can read In the Matter of Banc One
Investment Advisors Corporation and Mark A. Beeson at IA-2254 (June 29,
2004).

Under the
terms of the SEC's Order, an Independent Distribution Consultant must submit to
the SEC a Distribution Plan for the distribution of the Fair Fund containing
$50 million to investors. The IDC submitted a proposed plan of
distribution that was published for public comment on August 7, 2006. The
SEC received and considered public comments on the plan. The IDC then proposed
a Modified
Distribution Plan for SEC review, which was approved by
the SEC on May 9, 2007.